Status : Published Published On : Sep, 2019 Report Code : VRHC1206 Industry : Healthcare Available Format : Page : 135

Global Wound Care Biologics Market – Analysis and Forecast (2019-2024)

Industry Insights by Product (Growth Factors (PDGF, EGF, IGF, TGF-Beta, FGF, Others), Skin Substitutes (Acellular Animal-Derived, Human Tissue-Derived, Biosynthetic), Cell-Based (Viable, Non-Viable), Collagen-Based, Enzyme-Based, Others), by Durability (Permanent, Temporary), by Application (Chronic, Acute), by End-User (Hospital and Specialty Wound Care Clinic, Home Healthcare, Others), by Geography (U.S., Canada, Mexico, Germany, U.K., France, Italy, Spain, Japan, China, India, Australia, South Korea, Brazil, U.A.E, Saudi Arabia, South Africa, South Africa)

Industry Overview

The global wound care biologics market was valued at USD 1,648.7 million in 2018, which will grow at a CAGR of 6.7% during the forecast period. Several products such as growth factors, skin substitutes, and collagen-based products majorly contribute to the wound care biologics market size. Increasing geriatric population, increasing the incidence of burn injuries, increasing awareness for wound care management, growing prevalence of ulcer and target conditions are propelling the growth of the market.

Market Segmentation

Insight by Product

On the basis of product, the global wound care biologics market is categorized into growth factors, skin substitutes, cell-based, collagen-based, enzyme-based, and others. Of all, skin substitutes account for the largest share in the market. The global skin substitutes market is also anticipated to witness significant growth during the forecast period. Growth factors are further categorized into platelet-derived growth factors (PDGF), epidermal growth factors (EGF), insulin-like growth factors (IGF), transforming growth factor-beta (TGF-β), fibroblast growth factors (FGF), and others; whereas skin substitutes are further segmented into acellular animal-derived, human tissue-derived, and biosynthetic. Another category of cell-based products includes viable and non-viable segments.

Insight by Durability

Based on durability, the wound care biologics market is segmented into permanent and temporary biologics. The demand for temporary biologics has witnessed considerable growth over the last few years due to the increasing burn incidences and their lower cost compared to permanent biologics.

Insight by Application

Based on application, the wound care biologics market is segmented into chronic and acute. Among the two categories, chronic would care biologics hold the larger market share due to the growing geriatric population and increasing incidence of pressure ulcers, diabetic foot ulcer and other ulcers.

Insight by End User

Based on end-user, the wound care biologics market is segmented into hospitals and specialty wound care clinics, home healthcare and other end users. The hospital and specialty wound clinics is estimated to account the largest share in the wound care market due to increasing in hospitals and clinics, due to improving healthcare infrastructure in developing countries, increasing number of chronic wound cases and increasing incidence of diabetes.

Industry Dynamics

Growth Drivers

Global wound care biologics market has been driven by several key factors, predominantly increasing geriatric population and increasing incidence of burn injuries. Moreover, increasing awareness for wound care management, growing prevalence of ulcer and target conditions across the globe is propelling the demand for wound care biologics. Development of technologically advanced products is also one of the key growth drivers for the global market as conventional methods of wound management are being rapidly replaced by technologically advanced products for effective and faster healing.

Restraints

The high cost of wound care biologics and stringent regulatory requirements for the approval of products impede the growth of the global wound care biologics market. Moreover, dearth of skilled professionals is also hampering the growth of the wound care biologics market to some extent.

Geography Insight

Geographically, North America is the largest wound care biologics market as the region is home to a large number of industry players. Some of the other factors leading to the growth of the North American market are growing research activities, the highest healthcare expenditure globally, and increasing prevalence of diabetes. For instance, according to Centers for Disease Control and Prevention (CDC), in 2015 approximately 23.1 million people in the U.S. had diabetes. The increasing cases of burn cases and increasing investment for research and development are also supporting the growth of the North American market.

Asia-Pacific is observed to witness the fastest growth in the market as the region comprises of largest population and the awareness for wound management is increasing rapidly among them. In addition, government support for wound management is also creating a positive impact on the wound care biologics market growth in the region.

Competitive Insight

Some of the key players operating in the global wound care biologics market are Integra LifeSciences Corporation, MiMedx Group Inc., Wright Medical Group N.V., Osiris Therapeutics Inc., Vericel Corporation, Kerecis Limited, Anika Therapeutics Inc., Acell Inc., Skye Biologics Inc., Solsys Medical, Marine Polymer Technologies Inc., Kerecis Limited, Smith & Nephew plc, and Mölnlycke Health Care AB.

Forecast Parameters
- Identifying variables and establishing market impact.
- Establishing market trends regionally.
- Analyzing opportunities and market penetration rates by understanding product commercialization, regional expansion.
- Analyzing demand and supply trends and changes in industry dynamics to establish future growth.
- Analyzing sustainability strategies adhered by market participants in an attempt to determine future course of the market.
- Analyzing historical market trends and super-imposing them on the current and future variables to determine the year-on-year trend.
- Understanding adoption, production, export, import, and regulatory framework.

Data Validation

- Estimated and forecasted data was validated through industry experts.
- Apart from industry experts, data triangulation methods were used for validation.
- Bottom-up and top-down approach has been used for estimation and forecast of market data, whereas top-down approach was used for validation.
- Demand, as well as supply-side surveys, were conducted in order to understand the industry dynamics and data validation.

Primary Research

VynZ Research conducts extensive primary research to understand the market dynamics, validate market data and have key opinions from the industry experts. The key profiles approached within the industry include CEO, CFO, CTO, President, Vice President, Product Managers, Regional Heads, and Others. Also, end-user surveys comprising of consumers are also conducted to understand consumer behaviour.

Wound Care Biologics Market Analysis

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Research Methodology

  •  Desk Research / Pilot Interviews
  •  Build Market Size Model
  •  Research and Analysis
  •  Final Deliverabvle
Wound Care Biologics Market